LOUISVILLE, Ky. & LAS VEGAS--(BUSINESS WIRE)--The Centers for Medicare and Medicaid Services (“CMS”) recently announced the 2015 performance year results for the Medicare Shared Savings Program and the Pioneer Accountable Care Organization Model that show physicians, hospitals and health care providers participating in Accountable Care Organizations continue to make significant improvements in the quality of care for Medicare beneficiaries, while achieving cost savings.
In 2015, Medicare Accountable Care Organizations had combined total program savings of $466 million, which includes all Accountable Care Organizations’ experiences, for 392 Medicare Shared Savings Program participants and 12 Pioneer Accountable Care Organization Model participants. The results show that more Accountable Care Organizations shared savings in 2015 compared to 2014, and those with more experience tend to perform better over time.
Medicare ACOs are groups of doctors, hospitals, and other health care providers, who come together voluntarily to provide coordinated high-quality care to their Medicare patients. The goal of coordinated care is to ensure that patients, especially the chronically ill, get the right care at the right time, while avoiding unnecessary duplication of services and preventing medical errors. When an ACO exceeds quality and financial thresholds – demonstrating achievement of high-quality care and wiser spending of health care dollars – it is able to share in the savings generated for Medicare.
Silver State ACO is one of the ACOs that shared savings.
“Silver State ACO started in 2014 and is extremely pleased to be among only 22% of these ACOs that generated savings for performance year 2015. We are very proud of our high-quality scores which helped us achieve the performance payment,” said Bruce Wiggins, Silver State ACO Co-Founder and Governing Board Vice Chairperson.
“We’ve said time and again that we are uniquely positioned for success in a value-based system of healthcare delivery, and our experience with our partners and patients in the Silver State ACO demonstrates just that,” said Benjamin A. Breier, President and Chief Executive Officer of Kindred Healthcare, Inc. (NYSE:KND), which owns part of Silver State ACO. “This is consistent with Kindred’s strategy to partner with premier health providers in order to effectively manage patient care across an entire episode with improved quality outcomes in local communities nationwide.”
Visit the Medicare Shared Savings Program News and Updates webpage to access the CMS press release and fact sheet, the link to the Performance Year 2015 results file, and to learn more about the program.
About Kindred Healthcare
Kindred Healthcare, Inc., a top-90 private employer in the United States, is a FORTUNE 500 healthcare services company based in Louisville, Kentucky with annual revenues of approximately $7.2 billion(1). At June 30, 2016, Kindred through its subsidiaries had approximately 101,800 employees providing healthcare services in 2,684 locations in 46 states, including 97 transitional care hospitals, 19 inpatient rehabilitation hospitals, 92 nursing centers, 19 sub-acute units, 617 Kindred at Home home health, hospice and non-medical home care sites of service, 105 inpatient rehabilitation units (hospital-based) and contract rehabilitation service businesses which served 1,735 non-affiliated sites of service. Ranked as one of Fortune magazine’s Most Admired Healthcare Companies for seven years, Kindred’s mission is to promote healing, provide hope, preserve dignity and produce value for each patient, resident, family member, customer, employee and shareholder we serve. For more information, go to www.kindredhealthcare.com. You can also follow us on Twitter and Facebook.
|(1)||Revenues based upon Kindred consolidated revenues for the twelve months ended June 30, 2016.|
About Silver State ACO
Silver State currently covers the lives of approximately 19,000 Medicare beneficiaries in Southern Nevada through the coordinated care delivered by about 175 participating physicians and healthcare providers, including Kindred, which became a strategic owner and partner in the ACO in May 2014. Similar to other Shared Savings ACOs, the goal of Silver State is to ensure that patients, especially the chronically ill, get the right care at the right time, while avoiding unnecessary duplication of services and preventing medical errors. The management team at Silver State has over 80 years of experience in the healthcare field and is determined to make a difference in the quality of care given its patients.